The Contribution Of Human Resource Planning Commerce Essay

The Contribution Of Human Resource Planning Commerce Essay Human resource planning determines the human resources required by the organization to achieve its strategic goals. According to the Bulla and Scott (1994) it is the process for ensuring that the human resource requirements of an organization are identified and plans are made for satisfying those requirements. In human resource planning people are the most important strategic resource for an organization. Whereas HRP generally concerned with matching resources to business needs in the longer term, although sometime address shorter-term requirements as well. HRP also looks at broader issues relating to the ways in which the people are employed and developed in order to improve organizational effectiveness. So HRP plays an important role in strategic human resource management. The contribution of human resource planning The evolution of HR planning has been led by many developments which are following below: . Computerised HR information systems. . Closer links between the business environment and the activities of HR managers. . Skill shortages, necessitating the need for skill databases. But on the other hand organisations are increasingly focusing on HR planning for the following reasons: . Supply of skills to address strategic and demographic change. . Need to focus more on demand and supply for an external and internal perspective of an organisation. . Value of using scenario planning to model the fit with future business environment. HR planning plays an important role in business planning. The strategic planning process defines projected changes in the types of activities carried out by the organization and the scales of those activities. It determines the main goals of the organisation and also its skill and behaviour requirements. All these plans HR planning interpret in terms of people requirements. It also focus on solving the problems that the people required will be available at the rite to make some necessary contribution. As Quinn Mills (1983) says, HR planning is a decision-making process that combines three important activities: Identifying and acquiring the right number of people with the proper skills. Motivating them to achieve high performance. Creating interactive links between business objectives and people planning activities. The changing nature of the internal and external labour market requires the need to develop a strategic response. HR planning is increasingly necessary process to ensure the organisation is keeping these issues central to these thinking and that the outcomes from the planning process feed into all HR decisions. Acting non-strategically or in a non-planning way will stifle creativity in thinking behind HR policies. Let us consider demographic changes, for example. In response to the short fall of younger people in the workforce, and an increasing rate of early retirements, organisations can face the following responses: . Do nothing. Allow entry standards to reduce; Outsourcing activities can address the absence of internal skills. . Compete. Intensify recruitment and pay higher salaries, which might tend to increase costs, and short-term poaching of staff. . Substitute. Review new labour market sources. . Act. Improve the research mix, organisational image and working environment, restore employee turnover. Model of human resource planning There are three stages of human resource planning: Reconciling future resourcing needs with future HR plans. Considering and applying HR policy so as to have an impact upon the flows of human resources in an integrated way. This includes this pattern of engagement of staff and their movement through the organisation and the stages of exit. 3. Assessing the effectiveness of HR policies in accessing, creating and using human resource capability. The following chart shows how the organisations can view the flow of people and skill into, through and out of the organisation. It can also be the basis on which decision about reshaping the flows of skills and people can be made. Approaches to human resource planning Resourcing strategies shows the way forward through the analysis of business strategies and demographic trends. They are converted into the action plans based on the outcome of the following interrelated planning activities: . Demand forecasting- this is the key area of forecasting in the short, medium and long term. The organisation must determine the demand profile of skills, including their life cycle and decline, and the competence mix. . Supply forecasting-estimate the supply of people by reference to analyses of current resources and future availability, after allowing for wastage. The organisation must determine the supply of skills both internally and externally. . Investigation and analysis: The organisations must keep the knowledge about, (1) The external environment and labour market, looking at for example, national training plans and the location of markets. (2) The internal environment and labour market: the age and gender balance of the workforce, the number of employees, wastage rates and so on. (3) The organisations systems, resources, culture, practices and industrial relations. (4) Commercial performance requirements such as sales targets, product mix, market segments and profits. . Decision-making The organisation must then make plans to balance supply and demand of skills. The influences will include skill levels, development and the cost effectiveness of accessing a wider skill base. The areas in which decisions will be taken include: recruitment retirement and redundancy selection and assessment outsourcing promotion and reward development and retraining organisational development and culture the type of employment contracts performance management employee relations For example if we use the example of financial services sector, including banks, building societies and credit/loan agencies, using the above model we suggest that over the last 10-15 years the following picture might emerge: . External environment: reduced demand, changing skills, increased competition. . Internal environment: redundancies, new career skills, new culture. . Organisation system: a need for performance and productivity improvement, incentives, flexibility. . Commercial performance requirements: sales of more products, new markets reducing margins. These days in many sectors of the new economy, including finance, banking and it skills have moved from being administrative and routine skills to more complex competences based around diagnostic and interpersonal skills and knowledge. This has an important consequence for selection, labour market and developmental strategies. Key issues faced by such sectors are the need to focus on retention of key staff together with the allowance and possible encouragement of turnover on certain categories of employment. The training implications are about internal skills upgrading. From a recruitment point of view targeting external staff with the right knowledge and skills becomes critical. There are also employee relations implications such as the need to communicate the expectation of staff and demonstrate support for the changes. Professionalism in HR planning The first part of professionalism is understanding the customer, the customer requirements and providing customer satisfaction. HR is increasingly viewed as a service; a service both to employees and to the business. As such customer requirements need to be well understood. Delivering the right services to the customer at the right time, to the right quality and to the right cost must be the goal of HR. In this global business environment, the customer demand on HR is changing rapidly. From the business point of view, HR needs to understand the changing resourcing requirement of the business, flexibility in headcount in response to business cycle, the core competencies the organisation is trying to create and the culture it is trying to establish. HR has to understand the needs of a mobile workforce supporting a global organisation, the knowledge- based workforce the organisation is trying to nurture, the frequent re-structuring due to increased mergers and acquisitions activity, integration of new staff and so on. From the employee point of view, HR need to be clearly understand the increasing needs for workplace flexibility, distance and e-working, improved work-life balance, accessibility of HR operations. Some of the evolving requirements identified above can be enabled by technology. For example, technology underpins mobile/home working and facilitates the accessibility of HR operations at any time and from anywhere. It must be emphasised that technology alone cannot drive results, deliver customer satisfaction or deliver professionalism. Professionalism requires that HR practice be fair, open and transparent. Today, there is a legal obligation for organisations to ensure equality in the areas of race, disability, age, sexuality, gender, religion and belief. HR practices must ensure that equal opportunity regulations are adhered to by all the levels of organisations. Policies and practices should cover recruitment, promotions, remuneration, working conditions, customer relations and the practices of contractors, suppliers and partners, procedure must be in place to ensure that managers do not stifle or limit the promotion prospects of particular groupings or minorities, or discriminate in the selection of new recruits. Professionalism in this area requires the adoption of formalism in capturing customer requirements and selection criteria, and checking adherence against the agreed criteria. This applies to all aspects of HR practices including recruitment, selection, promotion and separation. Professionalism is also e nhanced by engendering, within the organisation as a whole, a culture of equality and respect. One way is to promote this is to ensure workforce diversity training is provided to all levels of staff. Limitations of human resource planning However, it must be recognised that although the notion of human resource planning is well established in HRM vocabulary it does not seemed to be embedded as a key HR activity. As Rothwell (1995) suggests, apart from isolated examples, there has been little research evidence of increased use or of its success. She explains the gap between theory and practice as arising from: . The impact of change and the difficulty of predicting the future-the need for planning my be in inverse proportion of its feasibility; . The shifting kaleidoscope of policy priorities and strategies within organisations; . The distrust displayed by many managers of theory or planning- they often prefer pragmatic adaptation to conceptualization; . The lack of evidence that human resource planning works. Conclusion The whole theory shows the importance of having HR planning system and process in place to support HR strategy. Human resource planning is seen as having increasing importance in addressing both quantitative and qualitative approaches to planning, with the strategic importance of identifying core competencies and sponsoring new techniques. The above theory examined the broader context and information now used for planning and the links to human resource policy decisions.

Critical Thinking: Evidence Based Practice (EBP) and “Person-In-Environment” (PIE) Essay

Critical thinking, what has happened to it? Is it apart of our daily lives or is it a part of the past? Can you tell me the definition of critical thinking or would every person’s response be different? Does today’s science have anything to do with critical thinking? How does evidence based practice (EBP) and â€Å"person-in-environment (PIE) relate to critical thinking? In this essay I will answer all of these questions plus give you more information on the subjects. So, by the end of this essay you should have a clear understanding of critical thinking: evidence based practice and â€Å"person-in-environment†. Let’s start with the question of what has really happened to critical thinking? It looks like to me we live in a very complicated fast paced world, where we all have problems and issues and at times they are very hard to comprehend. Yet still decisions have to be made. The interpretation of critical thinking goes as far back as the Socrates but in 1906 William Graham Sumner stated that the concept of critical thinking is: â€Å"the examination and test of propositions of any kind which are offered for acceptance, in order to find out whether they correspond to reality or not†. He goes on to say that â€Å"Men educated in it cannot be stampeded. They are slow to believe. They can hold things as possible or probable in all degrees without certainty and without pain. They can wait for evidence and weigh evidence. They can resist appeals to their dearest prejudices. † Another definition of critical thinking has been defined by Ku, K. (2009) as â€Å"judging information, evaluating alternative evidence and arguing with solid reasons. † (pg. 70) So it may seem too many that this notion of critical thinking (also embraced by educational theorists at the turn of the 20th century) is really declining in popularity in this new millennium. To others critical thinking, if somehow it became generalized in the world, would produce a new and very different world, a world which increasingly is not only in our interest but is necessary to our survival. Now after researching the subject of critical thinking I find out a lot of more information. Such as critical thinking is two things. One is the particular examination of an opinion or conclusion based on that specific examination. Two is when presented with a question, problem, or issue of someone’s opinion or conclusion a creative formulation is formed. I also found out that the practice of reasoning is something critical thinking concentrates on. Practicing self-awareness, tolerating ambiguity when faced with ethical dilemmas, and applying knowledge gained from multiple sources are all key components of critical thinking (Carey & McCardle 2011) Critical thinking is that mode of thinking — about any subject, content, or problem — in which the thinker improves the quality of his or her thinking by skillfully analyzing, assessing, and reconstructing it. Critical thinking is self-directed, self-disciplined, self-monitored, and self-corrective thinking. It presupposes assent to rigorous standards of excellence and mindful command of their use. It entails effective communication and problem-solving abilities, as well as a commitment to overcome our native egocentrism and sociocentrism. (The Critical Thinking Community 2011) Overall critical thinking makes you work on your thinking continuously, to make your thinking the object of every thought, to make your behavior the object of your own thinking; to make your beliefs the object of your thinking. The extent to which any of us develops as a thinker is directly determined by the amount of time we dedicate to our development, the quality of the intellectual practice we engage in, and the depth, or lack thereof, of our commitment to becoming more reasonable, rational, successful persons. Now for is critical thinking apart of science? Yes, it surely is. In the development of critical thinking science can be seen as the ultimate extension. Science entails thrusting ideas together and putting them to the test. The PIE system attempts to broaden the perspective, by placing psychiatric problems in a much broader context of social problems and challenges (Karls & Wandrei, 1994). This is a step forward, as there is some attention to strengths in this model. It cannot be said to come from a strengths perspective, however, which would seem to require a greater transformation and shift of focus. More importantly, this dichotomy is based on the illusory idea of therapeutic neutrality or transparency. That is, it assumes the practitioner has little influence on the experience or presentation of the client. No one is a critical thinker through-and-through, but only to such-and-such a degree, with such-and-such insights and blind spots, subject to such-and-such tendencies towards self-delusion. For this reason, the development of critical thinking skills and dispositions is a life-long endeavor. References: Carey, M. & McCardle, M. (03/22/2011) Critical thinking, Journal of Social Work Education. Issue: Spring-Summer, 2011 Source Volume: 47 Source Issue: 2 COPYRIGHT 2011 Council on Social Work Education ISSN: 1043-7797 Karls, James M, & Wandrei, Karin E. (1992). PIE: A new language for social work. Social Work, 37 (1), 80. Retrieved July 7, 2010 from the ProQuest database. Ku, K. (2009). Assessing students’ critical thinking performance: Urging for measurements using multi response format. Thinking Skills and Creativity, 4, 70-76. The Critical Thinking Community (2011) Our Concept and Definition of Critical Thinking. Retrieved from: http://www. criticalthinking. org/pages/our-concept-and-definition-of-critical-thinking/411

Voucher Programs: A Discrimination

The emphasis on improving public education in the United States has been growing for years. Legislators, privately owned companies, school boards and community organizations are trying to come up with intelligent ways to rescue children from deteriorating public schools, particularly schools located in inner cities. They believe a possible solution to the problem involves offering voucher programs, which would provide financial-aid for families not fortunate enough to pay for their children to attend private schooling. Vouchers are only available to the students who excel in certain areas and rarely cover the cost of the entire education. Taxpayers will be paying higher taxes to compensate for the students attending private schools through voucher programs. This method of segregation not only widens the gap between public and private education but it also isolates a small percentage of ‘desirable† students from the rest of society. Voucher programs will only benefit a minute amount of students while hurting the entire school system and the general public. Voucher programs help separate the gap between faltering public schools and unambiguous private schools. What good would it do to segregate the brightest kids from society? (90% of students attend public schools) It would improve their education by a small fraction, but as a whole, society itself will not improve. In fact, society will falter. Public schools will increasingly weaken by taking the strongest components out and joining them with their counterparts in private schools. What incentive will that give the government to make public schooling better, if the beneficiaries are warded of into a â€Å"better† education? The good would leave and the bad would stay, making public schools even worse than they already are. Vouchers also undermine the court case Brown vs. Board of Education, which determined that separate but equal is definitely not equal. Earl Warren, the judge residing over the case stated, â€Å"separate educational facilities are inherently unequal,† (Garrety, 787). Vouchers will segregate the society by placing students in separate facilities with tax payers† money. This form of separation is wrong. On average, a student receiving a voucher will be granted $2,500-$5,000 a year for private education. This is usually enough money to send a student to a local private school funded by the church. â€Å"In many areas, 80 percent of vouchers would be used in school whose central mission is religious training† (Internet source 1) Religion is everywhere in these schools. Prayers fill the schools halls, assemblies, sporting events and classrooms. Taking taxpayers money and channeling it into voucher programs is a travesty. It causes deliberate and unavoidable conflict between the church and the state. In the 1940†³s the High Court declared that, â€Å"no tax in any amount large or small†¦ e levied to support any religious activities or institutions† (Internet source 1) and in 1997 the government also concluded the refusal to fund, â€Å"inculcation of religious beliefs,† (Internet source 1). Voucher programs would demand citizens of all races and ages to pay for a religious education for children they will never know. How could the government not subsidize institutions that offer a curriculum entirely different than the norm? For example a school run by an extremist group like the Ku Klux Klan, or a curriculum primarily focusing on communism will also demand funding. The government will have to offer them funding for vouchers just like every other religiously affiliated private school. The American public will be contributing to the advancements of these types of schooling. This is not fair! Voucher programs, in no possible form can ameliorate public education. Some public schools will be left with fewer dollars than in previous years, and they will have the poorest and least intelligent students to teach. No teacher will want to teach in such circumstances. They know that they will possibly receive pay cuts, which will give little to no incentive for teachers to stay teaching at public schools. It will promote unqualified and inexperienced faculty to fill the unwanted positions, which will make the situation even worse than it already is. There would be a rise in popularity for teaching jobs in private schools, driving potential prospects for teachers in public schools away. As a whole, voucher programs pose an immense threat to the public education system. They have proven to be unpopular amongst states around the entire country. â€Å"When offered to vote on voucher-like programs, the public has consistently rejected them; voters in 19 states have rejected such proposals in referendum ballots. In the November 1998 election, for example, Colorado voters rejected a proposed constitutional amendment that would have allowed parochial schools to receive public funds through a complicated tuition tax-credit scheme. Indeed voters have rejected all but one tuition voucher proposals put to the ballot since the first such vote 30 years ago. † (Internet source 2) It is obvious that vouchers are not the solution to public education struggling to Vouchers sidetrack the building of support for public schools which is exactly what public schools need. The United States government should try and come up with a solution, which will benefit the school system as a whole. Vouchers only benefit . 1% of all students attending schools throughout the United States. Vouchers do not help to improve deteriorating public schools, and they do not help the majority of students in those schools. How can the government make families (already struggling financially to send their children to public schools) help pay for kids attending private schools through voucher programs? It cannot happen and never will!

Joseph Stalin The Dictator Of The Soviet Union Essay

Joseph Stalin was a former general secretary of the Central Committee of the Communist party of the Soviet Union. Stalin was the dictator of the Union of Soviet Socialist Republics from 1929 to 1953. His Red Army helped defeat Nazi Germany during WWII. On December 18th, 1879, in the Russian peasant village of Gori, Georgia, Joseph Stalin was born. His full birthname was Josef Vissarionovich Djugashvili. He died on March 5th, 1953 in Kuntsevo Dacha. Joseph was buried in the Kremlin Wall Necropolis, Moscow. He was the son on Besarion Jughashvili, a cobbler who beat his son, and Ketevan Geladze, a laundry woman. Stalin was a frail child. At age 7, he caught smallpox, which left his face scarred. A couple years later he was in a carriage accident which left his arm slightly deformed. Some state that his arm trouble was a result of blood poisoning from his injury. Joseph was bullied by other children in his village, which set his foundation for greatness and respect. While in school, Stalin came in contact with Messame Dassy, a secret organization the supported Georgian independence from Russia. Some of the members were socialists and those people introduced him into the writings of Karl Marx and Vladimir Lenin. Stalin joined the group in 1898. He became involved in revolutionary politics as well as criminal activities as a young man. In 1902, he was arrested for coordinating a labor strike and exiled to Siberia. That was the first of his many arrests and exiles in theShow MoreRelatedJoseph Stalin Essay example1133 Words   |  5 PagesJoseph Stalin, whose real name is Iosif Vissarionovich Dzhugashvili, was born on December 21, 1879 in the small town of Gori, Georgia. His family was poor and he was the only child of four to survive. His father was a shoemaker. He was a heavy drinker and died from wounds in a brawl when Stalin was 11 years old . His mother was a pious and hardworking woman. She wanted her son to have a good life so she entered him into priesthood. He attended elementary school run by the Orthodox Church and wentRead MoreBio of Stalin1535 Words   |  7 Pagesambitious, Joseph Stalin grabbed control of the Soviet Union after the death of V.I. Lenin in 1924. As a member of the Bolshevik party, Joseph Stalin (his adopted name, meaning Man of Steel) had an active role in Russias October Revolution in 1917. He maneuvered his way up the communist party hierarchy, and in 1922 was named General Secretary of the Central Committee. By the end of the 1920s, Joseph Stalin had expelled his rival Leon Trotsky, consolidated power, and was the de facto dictator of theRead MoreStalin s Regime Of The Soviet Union1418 Words   |  6 PagesJoseph Stalin was a ruthless dictator who killed millions of his own people. Stalin maneuvered his way through the ranks until he was the leader of the Communist party. He then proceeded to attempt to gain complete control on the country through the government. Stalin was involved in World War II with Germany until Hitler turned on Stalin. In the end, all Joseph Stalin accomplished was tearing apart the U.S.S.R. Stalin rose to power by moving up the ranks while Lenin was in control of the SovietRead MoreThe Cold War Was A War Between The Western And Eastern Sides Of The World Essay1487 Words   |  6 Pagesbetween the United States and the Russian Soviet Union. The war started around 1945 and went on for close to 45 years. The cold war affected more than just the Soviet Union and the United States it affected the whole world. The leaders of the United States were, Franklin Delano Roosevelt, Harry S. Truman, Dwight David Eisenhower, and Ronald Wilson Reagan. The primary leader of the Soviet Union was Joseph Stalin. 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Stalin and Hitler’s history is different from each other. At one point history make them alike. Adolf Hitler and Joseph Stalin were different men, from different countries, enemies that had the same goal, and become powerful leaders of their country Read MoreEvidence has shown that Stalin was not a savior to Russia by creating economic policies to help1300 Words   |  6 Pagesshown that Stalin was not a savior to Russia by creating economic policies to help with the agriculture and also modernized Russia. Stalin’s plan was to make Russia an industrial giant, so Stalin created the five-year plan to work on the farms and factories of Russia. Stalin’s five-year plans were a series of nation wide centralized economic plans in the Soviet Union (Wikipedia). What that meant was that peasants who didn’t have jobs were required to work on a specific goal that Stalin had to increaseRead MoreCharacteristics Of Joseph Stalin The Prince818 Words   |  4 PagesOctober 2017 Perfect Prince On December 21, 1879 (Editors, Biography.com) Iosef Vissarionovich Dzhugashvili was born. He was later known as Joseph Stalin and he was one of the most powerful men in the world during the 19th century. According to Niccolo Machiavellis views in the book, The Prince, Stalin was the perfect prince, or in this case the perfect dictator . The Prince examines the traits that are needed to be a perfect leader. Traits such as being feared, but not hated, being cruel, usingRead MoreThe Battle Between Our Own Limitations859 Words   |  4 Pagespeople had been influenced, but he did struggle during his writing years. Joseph Stalin was a cruel harsh russian dictator. Joseph was the dictator of the soviet union. 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Essay about Meanings of Intelligence and Adaptive Behavior

Meanings of Intelligence and Adaptive Behavior Tina Dean Grand Canyon University: SPE 553 November 26, 2012 Meanings of Intelligence and Adaptive Behavior Until several years ago, many students who were classified as having ID or assigned into an inclusion classroom were not expected to participate in standardized testing, however as late, everyone in public schools is expected to participate in standardized assessments. Some educators are happy with the change while others are concerned the assessments are not an accurate assessment of what students actually know. For many students with learning disabilities, standardized assessments often don’t accurately indicate what the student truly knows and where they have deficits. One†¦show more content†¦Inclusion needs to be implemented in a way that will not only boost the quality of performance generated by the assessment but also the constructive outcome of the education being provided. The difficulty therefore lies in being able to implement a sound assessment because of the significant essential factors. One factor that would have to be determined is how many special education students would qualify as ineligible to partake in the regular education assessments. Another factor that would be solved would be how the regular education assessment could be enhanced to better suit the needs of the special education students. Also, the decision would have to be made to determine the criteria for students who would qualify for accommodations and which accommodations would be appropriate. In order for all these decisions to be made, it is essential for all the characteristics as well as the needs of the indentified students be met, and it is almost impo ssible if the identification and classification of the students continue to be inconsistent. Another problem with assessing indentified students is the fact of accommodations. When a test is given to a student with disabilities, certain changes or â€Å"accommodations† are made. Some of these accommodations are simple as testing the student in a smaller group, allowing the frequent monitored breaks, allowing the student extra time to finishShow MoreRelatedComplexity Leadership For An Education Mnc1698 Words   |  7 PagesKnowledge is powerful, and creating a shared sense of knowledge and cultivating this throughout the organization, rather than a few leaders with the knowledge is required in leading a complex adaptive system (Best, 2014). 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Relationship Between The Story of an Hour The Yellow...

Outline * Story of an Hour and Yellow Wallpaper have challenges that were faced by the protagonists, setting looked to be in the same era with men being in charge of their wives lives. * Both women were emotionally and psychically trapped in their relationships * Both wanted freedom from their husbands * Both protagonists had an illness, which lead to had an opposite effect on both characters * Mrs. Millard had a heart condition and the narrator would develop a mental illness * Mrs. Millard had the news break slowly to her, in the end her death was led by joy * The narrator in Yellow Wallpaper was confined in a room with wallpaper she disliked, the husband would say nothing is wrong with her;†¦show more content†¦Body and soul free!† (Chopin 3). In my point of view those feelings that Mrs. Mallard felt at that moment was finally being let go from her husband’s grasp and the shackles of marriage which was an imprisonment to her. In â€Å"The Yellow Wallpaper†, the narrator of the story was remained nameless is confined in a room with eccentric wallpaper, which I think seems to symbolize the complexity and confusion in her life. The narrator’s freedom in this case would be writing, which did not sit well with her husband based on this quote; â€Å"There comes John, and I must put this away – he hates to have me write a word† (Gilman 57). For those moments the narrator writes in her journal she feels to have freedom and to express herself from reality, but in secret. The way the narrator describes her room as; â€Å"it is a big, airy room, the whole floor nearly, with windows that look all ways, and air and sunshine galore†¦I should judge, for the windows, are barred for little children and there are rings and things in the walls† (Gilman 56). This portrayal of the room could be described as confinement for the narrator, and a sense feeling trapped. In both short stories, the main characters, Mrs. Mallard and the narrator have or ended up developing some sort of illness while in their marriages which can create difficulties in their relationship. In â€Å"Story of an Hour†Show MoreRelatedComparison of the Yellow Wallpaper, Story of an Hour, and Gaslight960 Words   |  4 Pagesremain deeply embedded in our culture. Today and in the past, feminist notions about the social norms that limit womens possibilities have yearned for expression and have found this through various artistic outlets. The Yellow Wallpaper by Charlotte Perkins Gilman, The Story of An Hour by Kate Chopin, and the 1944 Film Gaslight are three artistic works that relay feminist themes in a unique way. These three works differ in certain aspects, but all ultimately embody the same underlying theme of the oppressionRead MoreComparison Essay of The Yellow Wallpaper and The Story of an Hour958 Words   |  4 PagesEssay â€Å"The Yellow Wallpaper† by Charlotte Perkins Gilman and â€Å"The Story of an Hour† by Kate Chopin are two different stories with the women both suffering from an illness. One of the women are sufferering from a mental illness and the other physical, and both are bery emotionally detached from their husbands. In â€Å"An Story of an Hour† Mrs. Mallard is at first devistated from her husbands death but soon realizes this means she is free from him, and in â€Å"The Yellow Wallpaper† it seemsRead MoreCultural Analysis : The Yellow Wallpaper927 Words   |  4 PagesCultural Analysis: The Yellow Wallpaper Charlotte Perkins Gilman’s â€Å"The Yellow Wallpaper† is a short story told from the perspective of a woman who’s believed to be â€Å"crazy†. 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Gilman uses setting to strengthen the impact of her story by allowing the distant country mansion symbolize the loneliness of her narrator, Jane. Gilman also uses flat characters to enhance the depth of Jane’s thoughts; however, Gilman’s use of narrative technique impacts her sto ry the most. In The Yellow Wallpaper, Charlotte Perkins GilmanRead MoreThe Yellow Wallpaper Literary Analysis 1486 Words   |  6 PagesThe setting of these two stories emphasize, on visually showing us how the main characters are based around trying to find freedom despite the physical, mental and emotional effects of living in confinement. While on the other hand, dealing with Psychology’s ugly present day behavior showing dystopia of societies views of women during the time period they lived. Comparatively, the relationships between the two main characters in the stories portray women’s yearning for freedom with different typesRead MoreFiction Essay: Yellow Wallpaper and Story of the Hour1517 Words   |  7 Pagesï » ¿Victoria Reyes English 104-OL5 Professor Steiner September 9, 2013 â€Å"The Yellow Wallpaper and Story of The Hour: A Character Analysis† Marriage has often been described as one of the most beautiful and powerful unions one human can form with another. It is the sacred commitment and devotion that two people share in a relationship that makes marriage so appealing since ancient times, up until today. To have and to hold, until death do us part, are the guarantees that two individuals makeRead MoreThe Oppressive Force in Marriage 1266 Words   |  6 PagesIn the novels written by Charlotte Gilman and Kate Chopin, the concept of marriage is contradicted from the romanticized relationship to a notion of imprisonment. Through the feminist perspective the reader gains a sense in which marriage may be the primary cause to gender oppression. In â€Å"The Yellow Wallpaper† Gilman’s central figure, who is unknown to the reader, is metaphorically imprisoned in a house in which the warden is her own husband. In contrast to this Chopin’s Character, Louise MallardRead MoreOpression and Freedom of Women in L iteratu1662 Words   |  7 Pagesmarriages lead many women to feel heavily burdened, both mentally and physically. In the literary works â€Å"The Yellow Wallpaper† by Charlotte Perkins Gilman and â€Å"The Story of an Hour† by Kate Chopin, both women are characterized as victims oppressed by their marriage and their strong desire to be free. In each story, the women depicted are oppressed in their marriages. In â€Å"The Yellow Wallpaper,† the unidentified woman is taken to a summer house by her husband, John, so she may recover from her condition

Pawnshop free essay sample

The proponents intend to put up a business that will increase the growth of the consumer in the pawnshop industry in the Philippines. They come up with a pawnshop business because it connects with their future profession as financial managers. They notice that most Filipinos become conscious on the frequent changes in the prices of our basic needs. Because of that changing status in our country, most of them are engaging in lending activities that maintain a strong growth in the industry. The proponents’ pawnshop business is a Filipino-focused business because they want progress for every Filipino by engaging in a lending activity that gives fast access, lower interest rate and very approachable transactions to the costumers. It is an essential tool to help Filipinos when they experience financial difficulties. The business aims to give every Filipino in the country a high quality of service with very low interest rate of financial intermediation during their times of financial needs. The Marketing Aspect For this feasibility study, the proponents conducted a survey and random sampling was used in choosing the respondents. When the results were tallied, the result was, 30 projected customers per day is the target market of the business. Signage, Flyers, Tarpaulins, Calendar, Shirts and Umbrellas are used as promotional tools. Management Aspect The Management Aspect had the proposed business structure of limited partnership. The business will employ 5 employees for the business. It composes the General Manager/Appraiser , Clerk and 2 security guards. Each employee will be given benefits and compensation just in accordance to the Philippine Labor Code. Policies will also be implemented for them all to follow. Technical Aspect For the business to operate, the proponents seek a located in Roman cor. Soler St. , Brgy. 293, Zone 28, District III, Binondo, Manila. The location is populated by households, establishments and has strong foot traffic. The area can accommodate at least 30 clients. Financial Aspect The Financial Aspect illustrates that the study is feasible, with the capital of P 700,000. 00 and net income of ________ on its first year of operation. Distribution among partners is divided equally. CHAPTER 2 BUSINESS CONCEPT 2. 1 OVERVIEW Pawning began in Ancient China, over 3000 years ago, and features in the written histories of Greek and Roman civilizations. The Nursery Rhyme Pop Goes the Weasel refers to it; a ‘weasel’ is a shoemakers tool and to pop is a slang term for pawning. Hence: Thats the way the money goes Pop goes the weasel. Queen Isabella of Spain pawned some crown jewels to pay for Columbus’s voyages. The word pawn comes from Latin – patinum meaning cloth or clothing – and French. As defined in the Presidential Decree No. 114 of the Philippines, pawnshop shall refer to a person or entity engaged in the business of lending money on personal property delivered as security for loans and shall be synonymous, and may be used interchangeably, with pawnbroker or pawn brokerage. It provides additional source of credit especially for small borrowers left unserved by the banking and other financial institutions in the country. Pawnshop Regulation Act of the Philippines (PD No. 114) is a declared policy of the state to regulate the establishment of pawnshops and to place their operation on a sound and stable basis to derive the optimum advantages from them as an additional source of credit; to prevent and mitigate, as far as practicable, practices prejudicial to public interest; and to lay down the minimum requirements and standards under which they may be established and do business. 2. 2 BUSINESS NAME DJN pawnshop is the chosen name of the proposed business. DJN stands for the names of the owners of the business, Deanna Jane and Joanne Nathalie. Aside from that, DJN also has different meanings. D stands for â€Å"Dependable† because our customers can depend on us with their financial needs in exchange for the security of their valuable items. J stands for â€Å"Just† because we give them reasonable appraisal. And N stands for â€Å"near to one’s heart† since we understand and feel the needs of our customers. 2. 3 BUSINESS LOGO The logo of the proposed Pawnshop is a diamond with the business name on it. The tagline is also included below the diamond and it is in a curve position to emphasize the â€Å"Smile† attitude of the employees in serving the customers. The diamond represents the quality of service of DJN Pawnshop. The yellow and black color of the logo signifies the color of the logo of pawnshop industry in general. The border of the word â€Å"Pawnshop† means security. The logo is chosen to give the market the awareness about what the business is all about. 2. 4 BUSINESS OFFERINGS DJN Pawnshop will act as a short term collateralized lender that will accept jewelries, electronics, certain musical instruments, and other objects of resalable value with the intent to provide a loan to the customer. The pawnshop will also offer other services such as electronic loading and foreign exchange. It will give convenience for the customers because they will not need to go to banks to sell their foreign currencies at a low price. The pawnshop will give higher selling price compared to banks depending on the foreign currency rate. 2. 5 UNIQUE QUALITY The proposed business offers quality of service. It is a Dependable, Just, and Near to one’s heart. Part of the quality of service that the proposed business offer is the attitude of every employee of serving with a smile. Aside from gold and other precious metals, DJN Pawnshop also accepts precious stones and any other resalable items. And it has additional services such as E-load vendo machine and foreign exchange. DJN Pawnshop aims to maintain the quality of every item being pawned. It will use electronic precious metal and stone testers to make sure that there will be no scratches when the appraiser check the purity of the precious items. These testers will give quality of service to the customers since the process is quick and easy to do. The customers will be able to get the loan fast because of the quick service that DJN Pawnshop provides. 2. 6 BUSINESS STRUCTURE DJN Pawnshop is a business in the form of general partnership. Its business structure is composed of two general managers (the partners) who will also be the appraisers of the items to be pawned, a clerk who will receive all the items and record the daily transactions of the pawnshop, and two security guards who will be responsible for securing the area of operation during daytime as well as the customers of our pawnshop. 2. 7 LOCATION In choosing the location of the business, the proponents considered the demand for having a pawnshop in the area. When the proponents looked for the location, they found out that there were only two pawnshops near the area but they are not convenient for our target market since they are located at Recto Ave. , Tondo, Manila. DJN Pawnshop will be located at Roman cor. Soler St. , Binondo, Manila since our target market is the sales personnel, vendors and residents within the area. It is very accessible for the clients of DJN Pawnshop to visit the store whenever they will obtain a loan, and exchange for foreign currencies, since it is located beside 999 Mall and 168 Shopping Mall. 2. 8 FEASIBILITY STUDY AND OBJECTIVES GENERAL OBJECTIVE: Generally, the goal of the business is to develop the Filipino lifestyle in their financial aspect by providing every Filipinos, specifically those in the vicinity, who are in need of a financial assistance through lending money with reasonable interest in return. The business is not just focusing on the profit gain but also on the welfare of every Filipinos in the country. Another goal of the business is to reduce dependency of Filipinos on moneylenders who charge high interest rates, and to facilitate the credit needs of the marginalized sector in the country. SPECIFIC OBJECTIVES: The proponents have come up with their objectives for different aspects: 1. MARKETING ASPECT To come up with a successful marketing strategies for the business. To establish the potential target market of the business precisely. To present the demand and supply of a business. To apply the result of the market research. To have a good relationship with the clients 2. MANAGEMENT ASPECT To identify all the needs for the personnel of the business. To classify the business sections and key positions of the business. To establish good objectives and guiding principles of the business. To identify the different skills and abilities of the proponents to handle the business. 3. TECHNICAL ASPECT To determine the total costing of the service. To be able to make a best quality service for the customers. To develop an effective production process to increase productivity. To determine the best sources of supplies used in the operation of the service at reasonable cost. 4. FINANCIAL ASPECT To determine the liquidity of the business for 5 years. To present the sales projection of the business. To provide financial report and its analysis. To determine the business profitability and sustainability. CHAPTER 3 SITUATION ANALYSIS 3. 1 RELATED STUDIES These days, pawnshops are popular more than ever. Not only the transactions costs on the part of the borrower are very minimal, loans are also easily obtained, provided that, an item of value can be presented as collateral. With their rapid expansion, pawnshops have definitely taken a development role. Although pawnshops are currently regulated by the Central Bank, pawnshops are admittedly the least regulated among the financial institutions. Those who desire to open a pawn clearance from the central bank, unlike other financial institutions such as finance companies. Also, branching regulations that are applied to banks are not applied to pawnshops. In addition to this, the financial reforms have been favorable to pawnshops. In particular, the lifting of the interest rate ceiling tends to improve the profitability of pawnshops. Pawnshops have been spared from such restriction. In fact, the minimum capital imposed and has remained the same till the present; whereas the minimum capital requirement for banks and other non – bank financial institution has been increased. The strong demand for the services of pawnshops made them a very attractive business venture. This has not gone unnoticed by small entrepreneurs. Pawnshops have sprouted in almost every corner of the country. However a new commercial building is completed, chances are there is one or two new pawnshops that are also opened. During the height of the financial crisis, pawnshops were very selective with regard to the kind of asset they accepted as collateral. They preferred less bulky high valued items like jewelry. Lately, with the stiffer competition, pawnshops have broadened the range of items they accept as collateral. Some pawnshops even accept appliances and later on some gadgets. The stiff competition among pawnshop has also brought down the effective lending rates charged. Presently, all pawnshops no longer impose service charges and liquidated damage fee for overdue loans. While most pawnshops still charge 4 percent per month loans others have started giving discounts, especially to highly – favored clients. There is no information regarding the uses of loans provided by pawnshops. This is because pawnshops, in practice, do not ask about the purpose of the loan, nor do they examine the repayment capacity of the borrowers since all loans are secured by chattels. Although there is a prohibition against lending an amount less than 30 percent of the appraised value of the security offered for the loan by the pawner, pawnshops may quote a lower appraised value since they make the appraisal themselves. Hence, pawnshops are not worried about loan defaults since they can sell the chattels at market price. 3. 2 INDUSTRY REVIEW The 2009 Annual Survey of Philippines Business and Industry (ASPBI) covered a total of 14,078 Financial Intermediation establishments. As shown in the graph, Pawnshop operations registered the highest number of establishments with 6,953 or comprising of almost fifty percent (49. 4%) of the total. Credit granting ranked second with 23. 4 percent and Non – bank financial intermediation third with 14. 4 percent. However, insurance pension funding, except compulsory social security recorded the least number of establishments with one percent. 3. 3 INDUSTRY KEY DRIVERS AND KEY BARRIERS Population is one factor that affects the market for either product or service. According to the definition of population, it is one of the main components of a market. A logical place to start is with the analysis of total population. The increase in population will result to the increase in credit needs, and rising population means more mouth to feed, more children to be educated and more people to be cared of. Credit is not luxury items that people will care of credit to economize. Credit becomes a necessary in order to sustain the increasing population. The market for consumer services like credit is also influenced by such factors as Education and Occupation. As observed, loan sharks are able to the businessmen better with people who are not adequately educated. These people are not aware that are interest being imposed upon them are illegal and too much. In market that is predominated with educated people, money lenders will find it hard to compare with institution like pawnshop that can provide the same credit but at a very much lower cost. Occupation and income are also factors that affect demands because people alone do not make a market, they must have money to spend and pay for the services and goods they need. It is found out that people tend to avail credit from different lending institution especially when they know that they have income by which they can in repaying their debts. The people of Binondo are very much concern about debts. They are afraid on when will they get the money to pay their debts. These threats will also be beneficial to pawnshop, since people will prefer to pawn their valuables than to encounter debts from neighbors. 3. 4 TARGET MARKET 3. 5 COMPETITION DIRECT COMPETITOR Business Name Sarmiento Pawnshop Products and Services Pawning of gold (4% Interest Rate) Remittance (LBC, Palawan Express) Current Market Tenants and Shoppers of 168 Shopping Mall Number of years in business Less than One (1) Year Sales and Marketing Strategies Partnership with LBC and Palawan Express Strengths The first pawnshop business inside 168 Shopping Mall. Weaknesses New to the market. DIRECT COMPETITOR Business Name MegaTrade Pawnshop Products and Services Pawning of gold (4% Interest Rate) Remittance (LBC, Palawan Express) Current Market Vendors and Small business owners in Tutuban Mall and Tondo area. Number of years in business 6 years Sales and Marketing Strategies Discount on diamonds Strengths Locally known pawnshop Weaknesses Accepts gold and diamond only. DIRECT COMPETITOR Business Name Cebuana Lhuillier Products and Services Pawning Remittance Insurance Bills Payment E-load Foreign Exchange Current Market Stall owners, sales employees, and shoppers in 999 Mall. Number of years in business 48 years Tagline Walang Kapantay Magpahalaga Sales and Marketing Strategies Television Commercials High Appraisal Strengths Well Known Pawnshop Business Stability Variety of Product offerings Weaknesses With Hidden Charges INDIRECT COMPETITOR Business Name M. Lhuillier Products and Services Money Changer Insurance Plans Kwarta Padala KP To-Go Telco Loading M Lhuillier Food Products Current Market B and C Number of years in business 34 years Tagline Ang Tulay ng Pilipino Sales and Marketing Strategies Television Commercials News Papers and Magazine Articles Strengths Business Stability Known to the market Variety of product offerings Weaknesses Lower transactions High Expenses INDIRECT COMPETITOR Business Name Eastwest Bank Products and Services Savings Credit cards Personnal Loan E-Banking Investments Loans (Auto,House etc. ) Foreign Exchange Current Market A and B Number of years in business 19 years Tagline Your Dream, Our Focus Sales and Marketing Strategies Television Commercial Strengths Established already Online banking facilities Weaknesses Does not offer wide variety of products High interest rate INDIRECT COMPETITOR Business Name UCPB Products and Services Savings Online Banking UCPB Connect Bills Payment Credit card Mobile ATM Van Loans Foreign Exchange Fund Transfers OFW Remittance Current Market A and B Number of years in business 50 years Tagline A Passion for Customer Satisfaction Lots of requirements needed High interest rate Possible loan Declined Sales and Marketing Strategies Television Commercials Strengths Established already Well known Business Weaknesses Not locally known High interest rates INDIRECT COMPETITOR Business Name BDO Products and Services e-Banking accounts Trust and Investments Loans Credit/debit cards Remittance Services Insurance Current Market A and B Number of years in business 45 years Tagline We Find Ways Sales and Marketing Strategies Television commercials Newspaper and magazine articles Strengths Incorporate with SM Well Known Business Locally Known Weaknesses Possible denied loans High Interest Rate Lots of Requirements when availing loans 3. 6 SWOT MIX Strengths Weaknesses Location of the Pawnshop Efficient effective Services â€Å"Smile† attitude of the employees in serving the customers. Services expansion based on the customer demands Lower interest rates High appraisal rates No hidden Charges Business is new in the market It has limited promotions Unknown to possible consumers Poor security of the location Opportunities Threats The location is highly visited High traffic of potential target market Competitors within the area Some of the customers prefer to borrow money from relatives. CHAPTER 4 BUSINESS VIABILITY 4. 1 MARKETING ASPECT MARKET DESCRIPTION Our Proposed project is an establishment that provides credit for small borrowers in substitute to other financial institution. Our pawnshop gives our customer satisfaction to obtain their financial needs by means of lending and also provide them quality and best service. Pawnshop provides additional source of credit especially for small borrowers left unanswered by banks and other financial institution. The emphasis has been on providing credit for individuals who are in urgent need of money and for ordinary customers. In terms of serving financial needs to the people, pawnshop is much different from the bank or any entity that provides loan or credit. The big difference is that, in banks, the transactions involve weeks and even months and volume of paper requirements to meet. One can also get credit from loan sharks (â€Å"5’6†). The difference though, is the interest and terms and conditions of the payment As we conduct study about the operation of our proposed project, pawnshop mostly found near the market place, residential and commercial establishments. PRODUCT/SERVICE OFFERINGS SERVICE NAME DESCRIPTION Pawning the core service e of DJN Pawnshop The proposed business offers short-term loans to clients with jewelries (precious stones and metals), watch, appliances, electronic gadgets, musical instruments, and other objects of resalable value as collaterals. Offers high appraisal rates and guarantees the safety of the item. Clients may partially pay the principal loan to extend the contract. Clients can also renew their loans 30% 60% Appraisal rate 4% Interest rate E-Load Convenient way to reload for prepaid internet and mobile phone users subscribed to major telecommunication networks. as per customer’s need Foreign Exchange (Money Changer) Quick conversion of international currencies to Philippine peso with hassle. Offers a competitive foreign exchange rates. Foreign currency rate based. TAG LINE â€Å"Ayos alahas mo rito†¦Ã¢â‚¬  The proposed business used the tag-line â€Å" Ayos Alahas mo rito† The tag-line signifies the quality of service that DJN Pawnshop is offering. It make sure the maintenance of the item’s quality. It also check the of the jewelries with an Electronic Tester to prevent scratch on the items. All items accepted are secured inside a vault and are very well taken care of. DEMAND AND SUPPLY ANALYSIS DEMAND Total Population 4,210 Potential demand 74% Total Demand 3,115 Supply Sarmiento Pawnshop 10 MegaTrade Pawnshop 15 Cebuana Lhuillier 20 M Lhuillier 20 Total 65 Demand Supply Gap Total Demand 3,115 Less: Total Supply 65 Demand supply gap 3,050 Less: Conservative Rate (20%) 610 Conservative demand supply gap 2440 Desired Market Percentage 1% Target Market per day 24 MARKETING PROGRAM (4P’s) PRODUCT/SERVICE Pawning is the main service offering of the business. Pawnshop refers to a person or entity engaged in the business of lending money on personal property delivered as security for loans and shall be synonymous, and may be used interchangeably, with pawnbroker or pawn brokerage. DJN Pawnshop also has additional services such as e-load and foreign exchange. E-load is a way to reload for prepaid internet and mobile phone users subscribed to major telecommunication networks. While, foreign exchange is the exchange of one currency for another, or the conversion of one currency into another currency. PRICE The proponents decided to offer a 60% appraisal rate on the market value of the collateral items of the costumers. DJN pawnshop charges 4% interest rate per month, holds the items for 30 days and has a 90 days grace period. The pawnshop also gives a P5 service change on every pawning transaction. All unclaimed items will be subject for auction and 25% mark-up of the value of the items pawned will be applied. PLACE DJN Pawnshop will be located at Roman cor. Soler St. , Binondo, Manila since our target market is the sales personnel, vendors and residents within the area. It is very accessible for the clients of DJN Pawnshop to visit the store whenever they will obtain a loan, and exchange for foreign currencies, since it is located beside 999 Mall and 168 Shopping Mall. PROMOTIONS Before the start of the operation of the pawnshop, an advertising campaign will be addressed and put into action. Signage should be placed within the areas around the Barangay wherein it is visible to every person who pass by. Printed materials should be disseminated showing the pawnshop’s service offerings. PROMOTION STRATEGIES PROMOTION BUDGET PROMOTION SCHEDULE 1. Promotional Flyers This will be the main marketing tool that will be utilized by the business. P 250 P 150 P 150 P 150 P 150 P 150 A week before the grand opening. December (500 pcs) Days after the grand opening January (300 pcs) Valentine’s Season February (300 pcs) Graduation Season March – April (300 pcs) School Opening/Wedding Season May – June (300 pcs) Christmas Season November – January (600 pcs) 2. Tarpaulins This will be posted especially during special occasions. P 250 P 250 P 250 P 250 Grand Opening (January) Graduation Month (March – April) School Opening (May – June) Christmas Season (December January) 3. Freebies This will be mainly given to every customers. P 600 P 500 P 500 P 600 P 500 Grand Opening (January) School Opening (June) T-shirts for the first 5 customers. Umbrella for the next 10 customers. Ball pens for the following 10 customers. Valentine’s Season, Graduation Season and Christmas Season T-shirts for the first 5 customers. Ball pens for the next 10 customers. 4. Social Networking Site Advertisement through Social Networking Sites like Facebook. This will be updated from time to time especially during occasions. Free The whole business operations 6. Privilege Card This is made to provide points for the customers that they can use as load payment upon redemption. Each card is worth P 50. P 5,000 Always available (100 pcs per year) Equivalent to P____ 7. Valentine’s Discount in Auction 10% Valentine’s Season (10% discount on the second item when the two items are bought by a single customer) PROJECTED SALES The projected sales of DJN Pawnshop is estimated as equal to the population multiplied by the target market and the percentage of the respondents who are willing to try newly-opened pawnshop within the area. 5*. 7*. 6*2 4. 2 MANAGEMENT ASPECT FORM OF BUSINESS ORGANIZATION The proposed business will be in the form of partnership to be owned by Deanna Jane A. Avila and Joanne Nathalie M. Cube. Under the Civil Code of the Philippines, a partnership is treated as juridical person, having a separate legal personality from that of its members. Partnerships may either be general partnerships, where the partners have unlimited liability for the debts and obligation of the partnership, or limited partnerships, where one or more general partners have unlimited liability and the limited partners have liability only up to the amount of their capital contributions. It consists of two or more partners. A partnership with more than P3,000 capital must register with the Securities and Exchange Commission (SEC). CAPITALIZATION The business partners of DJN Pawnshop agreed to contribute Php750,000 each in equal terms and condition to be used in all operational expenses incurred. PARTNERS: Avila, Deanna Jane A. Php 350,000. 00 Cube, Joanne Nathalie M. Php 350,000 ORGANIZATIONAL STRUCTURE OWNERS (MANAGERS/APPRAISERS) CLERK SECURITY GUARD SECURITY GUARD JOB DESCRIPTION AND JOB SPECIFICATION Job Title: General Managers/ Appraisers Job Specification: Candidate must possess at least a Bachelor/College degree in Finance, Accountancy, Banking, Economics, Business studies or equivalent. Knowledgeable in business operations specifically in pawning. Has excellent communication skills and must be a computer literate. Has strong leadership Has at least one year experience of being a manager. Job Description: Plans, organizes, coordinates and controls all activities of the business in order to achieve the overall established objectives and targets. Presides on managing the entire transactions of the pawnshop. Deposits daily collection to the bank. Responsible for appraising all items/valuables that are brought in the pawnshop to be pawned. Job Title: Clerk Job Specification: Candidate must possess at least a Bachelor/College degree of any course. Must have at least two (2) years experience in Pawnshop or related business. Must not be engaged directly or indirectly in any activity similar to the business of the Pawnshop. Must not be convicted of any administrative, civil, or criminal case involving moral turpitude. Gross negligence or grave misconduct in the performance of his/her duties. Must be of good character. Must not have been convicted of any administrative, civil, or criminal case involving financial and/or property accountabilities at the time of his/her appointment. Job Description: Personnel who receive all the items and record the daily transactions of the pawnshop. Job Title: Security Guard Job Specification: Must not be engaged directly or indirectly in any activity similar to the business of the Pawnshop. Must not be convicted of any administrative, civil, or criminal case involving moral turpitude. Gross negligence or grave misconduct in the performance of his/her duties. Must be of good character. Must not have been convicted of any administrative, civil, or criminal case involving financial and/or property accountabilities at the time of his/her appointment. Job Description: Responsible for securing the area of operation during daytime as well as the customers of our pawnshop. COMPENSATION AND BENEFITS Compensation DJN Pawnshop will pay at least a minimum wage rate for its full time employees. According to the National Wages and Productivity of Commission, the minimum wage rate in National Capital Region (NCR) for non-agriculture as of July 2012 will be P419-P456, effective November 2012. Furthermore, under Section 22 of RA 9504, known as National Internal Revenue Code Of 1987 states that minimum wage earners shall be exempt from the payment of income tax on their taxable income: Provided, further, that the holiday pay, overtime pay, night shift differential pay and hazard pay received by such minimum wage earners shall likewise be exempt from income tax. Regularization of employees and further increase in salary will be evaluated according to the performance evaluation made by the Managers. Wages will be distributed every 15th and 30th day of the month in the form of pay slips. Benefits Under Philippine Labor Code, there are three mandatory benefits that should be given to the employees of DJN Pawnshop. 1. SSS (Social Security System) The Social Security System in the Philippines (Republic Act No. 8282 also known as Act of 1991) is aimed at providing protection for the SSS member against socially recognized hazard conditions, such as sickness, disability, maternity, old age and death, or other such contingencies not stated but resulted in loss of income or results to a financial burden. The employee and his/her employer(s) are to contribute for the social security benefits of the said employee in accordance to a given schedule by the Philippine Social Security System. Monthly employee contribution depends on the employees actual monthly salary. 2. MEDICAL INSURANCE The employee and his/her employer(s) are to contribute for the medical insurance of the said employee in accordance to the Republic Act 7835 on Medicare Program which is administered by the Philippine Health Insurance Corporation (PhilHealth). Monthly employee contribution depends on the employee’s actual monthly salary. The contribution schedule is provided by Phil. Health Insurance. 3. PAG-IBIG (CONTRIBUTION TO HOME DEVELOPMENT AND MUTUAL FUND (HDMF)) The employer(s) is(are) required to contribute per month not less than P100. 00 to the employee’s Home Development and Mutual Fund. In accordance to the periodic remittance schedule provided by HDMF, the employer(s) will remit this contribution, in addition to that of the employee’s, which is to be deducted from his/her payroll. 4. 13th Month Pay As provided by the Presidential Decree No. 851, the employee shall receive a bonus salary equivalent to one (1) month, regardless of the nature of his/her Employment, not later than December 24 of every year. 5. OVERTIME PAY Under Article 87, work may be performed beyond eight (8) hours a day provided that the employee is paid for the overtime work, an additional compensation equivalent to his regular wage plus at least twenty-five percent (25%) thereof. Work performed beyond eight hours on a holiday or rest day shall be paid an additional compensation equivalent to the rate of the first eight hours on a holiday or rest day plus at least thirty percent (30%) thereof. Computation Overtime on Ordinary Day Work on special or holiday 6. HOLIDAY PAY When the employee is required to work on legal declared holidays or special days, pawnshop needs to pay the employee twice as his/her daily salary. 7. RETIREMENT PAY If the company has employees who have reached the age of 60 years or more but not beyond 65 years old, the company needs to pay them retirement. The minimum retirement pay is one-half (1/2) month salary for every year of service. A fraction of at least six (6) months is considered as one whole year. 15 days salary based on the latest salary rate; Cash equivalent of 5 days of service incentive leave; One-twelfth (1/12) of the 13th month pay. 8. SERVICE INCENTIVE LEAVES It is in Article 95 Book III, Chapter 3 of the Labor Code of the Philippines that covers the employee’s benefit for Service Incentive Leaves, an employee who has rendered at least one year of service is entitled to a yearly five days service incentive leave with pay. 9. Meal and Rest Periods The employee is provided a one (1) hour employee benefit for regular meals, when working on an eight-hour stretch. Employees are also provided adequate rest periods in the afternoon for thirty (30